The year 2009 was one of deep crisis for large parts of the world’s automobile industry, with production and sales that plunged in many countries, factory closings, job loss, and a reshuffling of the leading producers. Production of passenger cars and light trucks declined 13 percent, from 68.2 million units in 2008 to 59.2 million. The historic peak was 69 million vehicles in 2007. Sales dropped a less precipitous but still significant 6 percent, from 66.2 million light vehicles in 2008 (and the previous peak of 69.4 million in 2007) to 62.4 million in 2009.

Read: Auto Industry in Turmoil, but Chinese Production Surges by Michael Renner  

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